Hey guys,
this is a 1hr chart on EURUSD and as you can see price is still in the yellow box that represents a resistance area. I've already shorted this pair two times in the recent past (one with target1, one at breakeven). And it's now creating another short setup, in the form of a double top broken to the downside, this signifies price wants to go lower and a 618 retracement is a good place to sell, according to the 2618 strategy. The background conditions on the daily are still the same. Bat Pattern completed and structure zone.
Let's see how this plays out. Stops above 1,13, target1 at the retest, target2 to be determined.
If you want to share your view or simply ask questions, feel free to comment below.
Otherwise, see you in the next chart!
this is a 1hr chart on EURUSD and as you can see price is still in the yellow box that represents a resistance area. I've already shorted this pair two times in the recent past (one with target1, one at breakeven). And it's now creating another short setup, in the form of a double top broken to the downside, this signifies price wants to go lower and a 618 retracement is a good place to sell, according to the 2618 strategy. The background conditions on the daily are still the same. Bat Pattern completed and structure zone.
Let's see how this plays out. Stops above 1,13, target1 at the retest, target2 to be determined.
If you want to share your view or simply ask questions, feel free to comment below.
Otherwise, see you in the next chart!
Trade active
Trade closed: target reached:
First target hit! Stops moved to breakeven.
Comment:
Out at breakeven.
